USD/CHF Signal Update
Yesterday’s signals were not triggered as none of the key levels were ever reached.
Today’s USD/CHF Signals
Risk 0.75% per trade.
Trades may only be entered before 5pm London time today.
Long Trades
* Go long after bullish price action on the H1 time frame following the next touch of 1.0118 or 1.0074.
* Place the stop loss 1 pip below the local swing low.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trade 1
* Short entry after bearish price action on the H1 time frame following the next touch of 1.0181.
* Place the stop loss 1 pip above the local swing high.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
USD/CHF Analysis
This pair has come back to life in the direction of the bullish USD trend over the past couple of days, and along with the USD/JPY pair, again looks like a preferred instrument to use to benefit from USD bullishness.
The nearest key resistance is at 1.0181, but it may begin to be felt about 15 pips below that level, around the previous major swing high.
There is nothing due today regarding the CHF. Concerning the USD, there will be a release of Preliminary GDP data at 1:30pm London time, followed later by CB Consumer Confidence at 3pm.